NEW DELHI: Amid fears of higher shipping rates, longer routes and an increase in insurance premium due to the latest conflict in West Asia, the government will meet shipping lines, container firms, and other stakeholders to assess the impact on the country’s trade and address the concerns.“We are watching the situation. We are calling a meeting to understand what are the kinds of issues being faced and how we can sort them out,” commerce secretary Sunil Barthwal said, adding that the impact will depend on how the situation unfolds over a period of time.Exporters said ships may be forced to take longer routes, just when 30-35% of the goods had once again started moving through Red Sea. This means that voyage time will increase and so will the cost. With Pakistan airspace already closed, the escalation of tensions will also impact air freight over Iran.
